Panel Session: Electric Vehicle Boom: A look at the latest trends in manufacturing electric vehicles
Global demand for electric vehicles is booming, with 2023 sales expected to grow 35% after a record-breaking 2022. This explosive growth has led to electric vehicles moving from a 4% share of the overall care market to a 14% share in 2022. Three markets are dominating the EV industry – China, Europe, and the US. China is the frontrunner, manufacturing more than half of all electric vehicles. However, the U.S. is ramping up EV production and by investing more than $90 billion in EV manufacturing. Permanent magnet motors are by far the most commonly used electric motor in the EV market thanks to their high-power density, torque density, and efficiency.
Despite rising costs for the rare earth materials needed to make permanent magnets, the EV industry continues to double-down on permanent magnetics as the preferred motor technology. With panel speakers from MagCorp, Magnetic Instrumentation and more to be announced, this panel will explore the latest trends in manufacturing technology for electric vehicles.
Moderator: Jeff Whalen, Founder & Director, MagCorp
Chris Rainone, Global Supply Chain SME for Critical Materials & Supply Chain, Lockheed Martin
David Miller, President, Magnetic Instrumentation